No doubt Thursday’s newspapers will be making hay from Eric Daniels’ comment that he is paid a regular kind of wage.

Journalists who stayed to the end of the three-hour Treasury select committee hearing were astonished to hear the head of Lloyds Banking Group say: “The recipients of bonuses that I am referring to are people like you and me. They have relatively modest salaries.”

For background: Daniels is paid about £1m a year. (To be fair he has just waived a £2m-plus bonus for 2008).

I spoke to the super-union Unite tonight. It pointed out that many of its workers in finance are on annual salaries of as little as £14k.

February 12, 2009 12:01am in Banks | Comment